Tej Kohli, the self-made technology billionaire has announced a €50 million investment arm to support Europe’s growing esports sector.
Kohli’s investment arm will be called Rewired GG, which will be part of Rewired – a venture studio investing in start-up AI and robotics firms, of which Kohli is the lead backer.
Although details are initial scarce on what will be targeted, Rewired is looking to “build a world-class esports team, as well as develop individual players, games and commercial opportunities”.
Kohli’s decision to enter the market comes after being introduced to the sector by his son, Sean, who is a keen League of Legends and Fortnite player and frequent viewer of the NA LCS.
Tej Kohli commented: “Esports has huge potential and could rival traditional sports like football, tennis and basketball in terms of cultural impact and viewing figures. I have seen first-hand through my son the passion many young people have for the sport and the growing professionalism of the teams, players and commercial partnerships.”
He continued: “I believe that with the right mentoring and investment, Europe will soon play host to the best players, teams and commercial opportunities in global esports.
“Esports is the most disruptive innovation in world sport and I am excited to be able to help it thrive this side of the Atlantic.”
Sam Cooke, MD and Co-founder at Esports Insider, and advisor to Rewired GG commented: “I am really excited to see esports investment in Europe looking to catch up with those already seen in America and across Asia.
There is so much European potential in this developing sector, from individual players to whole teams, and the establishment of an investment arm like Rewired GG goes to show that there is now real confidence in this potential.
“I am very much looking forward to supporting Mr Kohli with his upcoming investments in esports in Europe and beyond!”
Esports Insider says: Always exciting to see big investment flooding into esports and with an initial arm of €50 million it’s not a small amount of money. We’re excited to see where the money lands and how European esports can grow as a result.
Disclaimer: Sam Cooke, Managing Director and Co-Founder of Esports Insider is an adviser to Rewired GG.